Tax Professional Tax Center
- Enrolled Agent Renewal Season — On Nov. 1, renewal season began for enrolled agents (EAs) with SSNs ending in 7, 8, 9 or no SSN. See Maintain Your Enrolled Agent Status.
- Treasury and the Small Business Administration last week released a PPP Forgiveness Factsheet.* There are links in the factsheet to the SBA’s Payroll Protection Program website for more information.
- A Closer Look — Help your community: Partner with the IRS for November 10 “National EIP Registration Day” (new)
- IRS Outreach Connection: Issue 2020-6 — Help us reach people who haven’t received an Economic Impact Payment
- IRS YouTube Video – Use Non-Filers Online Tool to Register for Economic Impact Payment *
- Form 4506-C, IVES Request for Transcript of Tax Return, frequently asked questions.
- Sale of Partnership Interest – November 19, 2020
- IRS Operations and Services (Updated October 30, 2020) *
We are working hard to reduce the backlog of third-party authorizations. However, due to site closures relating to COVID-19 concerns, we currently are exceeding our five-business day target for approval. Our current time frame for authorization approval is approximately 25 business days.
- Get My Payment frequently asked questions (Page Last Reviewed or Updated: 10-Nov-2020) * by Mercean Lamm, Senior Stakeholder Liaisonm, Communications & Liaison Division
- November 21 at 3 p.m. ET Deadline to Request Your Economic Impact Payment
If you did not:
- file a 2019 federal tax return,
- get an Economic Impact Payment,
- register for an Economic Impact Payment already.
Then, use Non-Filers: Enter Payment Info Here by November 21 to register for your payment.
- Economic Impact Payment frequently asked questions (Page Last Reviewed or Updated: 27-Oct-2020) *
- Notice 2020-65 – provides expedited guidance under section 7508A to postpone the time for withholding and paying certain payroll taxes to implement directives from an August 8, 2020 Presidential Memorandum *
- Form W-2 Reporting of Employee Social Security Tax Deferred under Notice 2020-65 *
- 2020 Form 941 and Inst 941 – The IRS released more than one revision of this product for the same calendar year. We have included all revisions in this file so that you can have access to them.
IR-2020-253, November 9, 2020 — IRS reminder to non-filers: Nov. 10 is ‘National EIP Registration Day;’ Community partners can help people sign up for Economic Impact Payment
IR-2020-252, November 9, 2020 — IRS provides certainty regarding the deductibility of payments by partnerships and S corporations for State and local income taxes *
IR-2020-251, November 5, 2020 — IRS provides guidance on certain distributions from terminating 403(b) plans
IR-2020-250, November 5, 2020 — Many college students may still qualify for an Economic Impact Payment; review the guidelines and register by Nov. 21 at IRS.gov *
IR-2020-249, November 4, 2020 — Security Summit partners warn taxpayers of new COVID-related text scam *
Tax Tip 2020-145, October 29, 2020 — Here’s what taxpayers need to know about filing an amended tax return
Tax Tip 2020-152, November 10, 2020 — Taxpayers have the right to representation when working with the IRS
Tax Tip 2020-151, November 9, 2020 — Reminder to all taxpayers: Gift cards are not used to make tax payments
Tax Tip 2020-150, November 5, 2020 — IRS resources to help small business owners
Tax Tip 2020-149, November 4, 2020 — New income ranges for IRA eligibility in 2021 *
- Video Tax Tip
How to Use the IRS Withholding Estimator for Paycheck Checkup
To report tax-related illegal activities, refer to our chart explaining the types of activity and the appropriate forms or other methods to use.
(11/6) Revenue Proc 2020-50, provides guidance for taxpayers wishing to apply Section 168(k) to certain depreciable property acquired and placed in service after September 27, 2017, by the taxpayer during its taxable years ending on or after September 28, 2017, and before the taxpayer’s first taxable year that begins on or after January 1, 2021.
(11/5) Revenue Ruling 2020-23, provides guidance on the distribution of an individual custodial account in kind upon termination of a section 403(b) plan. Notice 2020-80 is related to Rev. Rul. 2020-23 and requests comments regarding the protection of annuity and spousal rights under section 205 of ERISA with respect to a terminating § 403(b) plan funded through the use of custodial accounts.
(11/5) Notice 2020-80, requests comments on the application of the annuity and spousal rights provisions of section 205 of the Employee Retirement Income Security Act of 1974, P.L. 93-406, 88 Stat. 829, as amended (ERISA), in connection with a distribution of an individual custodial account (ICA) in kind from a terminating § 403(b) plan.
(11/4) Revenue Proc 2020-49, provides temporary guidance regarding the public approval requirement under § 147(f) of the Internal Revenue Code for tax-exempt qualified private activity bonds. Specifically, in light of the continuing Coronavirus Disease 2019 (COVID-19) pandemic.
(11/4) Revenue Proc 2020-48, prescribes discount factors for the 2020 accident year for insurance companies to compute discounted unpaid losses under § 846 of the Internal Revenue Code and discounted estimated salvage recoverable under § 832.